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Abacus urges brokers to act now on M-Day

Specialist branded lender Abacus Permanent is contacting around 10,000 brokers to urge them to start compliant processing now to reduce delays after M-Day.

Abacus, formed in 2002 by Mortgage 2000 directors, says brokers should start entering all additional compliance information wherever possible.

Head of sales Marc Tur-ner Turner says: “It is imp-ortant that brokers are as ready as possible to provide the additional information from now. This will help to reduce delays on our side, reduce problems for the broker and in turn help the client. We are ready for M-Day and we are here to help with queries.”

Abacus is launching its product range in a deal with network Friends Mort-gage World.

Friends Mortgage World mortgage proposition manager Trevor Galvin says: “This alliance is a great opportunity for both of us.”

the mta list

Life company networks that have received their MTA letter: Axa Assurance, Friends Mortgage World, Legal & General, MGM Assurance, Zurich IFA networks that have received their MTA letter or VOP letter: Bankhall, Banking-Insurance Services, Berkeley Independent Advisers, Berkeley Wodehouse Associates, Burns Anderson, Enable, IN-Partnership, Interdependence, Lighthouse IFA,

M&E Network, Mint,

Mortgages Direct, Park Row, Personal Touch

Insurance, Sage Financial, Sesame, Thinc Mortgage Solutions, Whitechurch IFA networks that have not yet received their MTA letter or VOP letter: Millfield, Virtual Net (Europe) Mortgage networks that have received their MTA letter: All Types of Mortgages, Arden Court Capital Finance, BDS Mortgage Group, Best Advice

Mortgage Network, Blue Pearl UK, Complete Mortgage Network, Domain, Enable, Ethical Mortgage Solutions, First Mortgage Options, Genesis, Guaranteed Home Loans, Man-chester Building Society, Members Mortgages, Mortgage Brokering Services, mortgageforce, Mortgage Intelligence, Mortgage Next, Mortgage Marketing Centre, Mortgage Support Network,

Network Data,

Newcastle Mortgage

Services, Network

One, One2One Mortgages, Optoma Interpartners, Oxygen Mortgage Group, Pink Home Loans, Prestbury Holdings, Professional Mortgage Partnership Network, Promise Finance, Squirrel, TBMC, The Mortgage Operation, The Mortgage Part- nership, Trustguard Homeloans Mortgage networks that have not yet

received their

MTA letter: Domain, Mortgage Finders, One2One Mortgages


Genesis finds solution to fee problem for ARs

Mortgage network Genesis says it is the first network to come up with a solution to planned FSA rules which require any mortgage appointed representatives calling themselves independent to offer a fee option. Genesis has previously highlighted a problem where its says most brokers had assumed that any procuration fee rebated to the client would […]

Ex-LIA presidents in secret summit

A secret crisis meeting took place on Tuesday between the LIA and former presidents who are unhappy with details of the merger with Sofa. Past presidents at the meeting at the RAC Club in London were Andy Bedford, Gavin Tisshaw, Peter Sprung, Len Warwick, Mike Bousfield, Tony Gordon, Christine Leach, Mike Clarke and Brendan Glennon. […]

&#39£8bn in underperforming funds&#39

Hargreaves Lansdown has highlighted underperform-ance of Scottish Equitable pension funds in a wide-ranging review of the sector. The report, Income-reducing Pension Funds, covers managed and UK equity funds. It reveals that two Scottish Equitable funds – the UK equities pension fund and the mixed pension fund – measured over one, three, five and 10 years […]

Commentary – unchained melody

Norwich and Peterborough Building Society has a reputation for innovation and being first to market with customer-focused propositions, from its best-buy Gold current account and award-winning internet banking service to its latest offset mortgage which allows customers to link both current and saving accounts to their loan. The society prides itself on the wide range […]

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Absence management systems gone AWOL from UK’s SMEs, reports Jelf

A quarter (23 per cent)* of the UK’s small to medium-sized enterprises (SMEs) do not have an absence management system in place, according to new research from Jelf Employee Benefits. Despite 69 per cent* of organisations having a system in place, three-quarters (75 per cent) report that it is not providing them with sufficiently empowering absence or health data to inform an effective wellbeing programme.


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